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Godaddy
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Starboard Urges GoDaddy for Prudent Guidance and Margin Expansion
Activist investor Starboard Value has urged web services company GoDaddy to set specific and realistic growth targets, provide more detail on cost savings, and improve margins. Starboard, which holds a more than 6% stake in the company, believes GoDaddy should aim for at least 40% growth and profitability for fiscal 2025, and achieve free cash flow of $9 per share by this fiscal year and $14 per share by fiscal 2026. The investor also emphasized the need for "prudent" growth guidance and highlighted potential cost savings in technology and development.